Economic growth in South West to bring opportunities – Jones Lang LaSalle
Jones Lang LaSalle has been banging the drum for the South West in its market review of the area, predicting a growth rate of 13% this year for the region – which it says is equal to the West Midlands, and is in the top four regions outside London.
Growth in housing demand is expected to be particularly evident in Exeter, Truro and Plymouth, which Charles Kislingbury, head of Exeter office at Jones Lang LaSalle, says are increasingly popular with downsizers and people seeking to relocate in search of a better quality of life. He adds that the growing scientific, IT and communications sectors together with the geographical location and strength of Exeter University make the region highly desirable, and points out its improving transport links.
The firm also says that the growth of online retail will bring opportunities in the South West property sector. “Sheds are the new shops,” declares Tim Western, director Industrial & Logistics agency in Exeter, with retailers taking large distribution centres across the South West in reaction to the changing retail landscape.